"I have to get to a spot where I can like support them eventually because they're not going to be able to retire."
"The only way to build true wealth is through investments."
"With just a little bit of work, you can be so far ahead that you don't have to worry about money."
"Instead of saying 'I can't afford it,' ask 'How can I afford it?' That opens up your mind."
"You have to create a financial system or a budget that works for you."
"Live like no one else today so that later in life you could live like no one else."
"If you can't budget a thousand and make it stretch, then you won't be able to budget a million."
"The best thing that you can do with your money now is start putting some extra cash aside into your investments because that's how wealthy people become wealthy."
"Optimizing your wealth. This is the stage that you're making money, you've got a significant amount of it."
"At the optimization stage, you're also going to focus on diversification."
"Manage your money with the right mindset, because you want to be investing for the long term. This is a long-term wealth building play."
"Make sure your goals align with your investments."
"Cash flow is the lifeblood of Financial Freedom."
"If you can make $500 a month in profit from one property, which is doable, then if you have 10 properties, that's $5,000 a month coming into your pocket in profit that you don't have to work to earn."
"A budget is telling your money where to go instead of wondering where it went."
"I would rather get rich slowly but get rich for sure."
"The money will come; you need that education to make sure you get on the pitch in the first place."
"Having a strategy for your money is one of the major steps toward reducing stress."
"I forgot about the money thing. I really got to get on making money."
"It is very hard and very painful to rely on somebody else, especially the government, to take care of you."
"Your army of dollar bills is doing what it needs to."
"Your loved ones deserve a financial safety net, and you deserve a smarter way to buy it."
"Automating your finances and taking the right steps previously means you can enjoy life's pleasures without jeopardizing your financial future."
"It's still remarkable how powerful your dollars can be even if you're not at the very beginning of your financial journey."
"Understand the concept of deferred gratification: creating margin in your life leads to money, which can then be invested."
"Why? Because I want you to be millionaires later and I don't want this house to ride you. I want you to ride the house."
"Even if a player is the best player in the world, if they completely bankrupt your club and put you in an irredeemable financial situation, it's probably not worth signing."
"If everyone could kind of get taken care of and guys learn how to manage their money right, your life could be pretty good at 60 and 65."
"It's a new year, and you need to make your money work for you."
"Diversification does not eliminate risk entirely, but experts can help you manage and reduce, providing a more resilient foundation for your financial well-being."
"The 40% rule is for every thousand dollars that comes in, I want to figure out how to save $400."
"You're going to save up $10,000 for your emergency fund."
"Just make sure if y'all going on a trip with somebody, make sure they got their funds together, okay? Because it will really ruin everything."
"The habits and actions you have with money will outlast you."
"You need to invest your money; put it somewhere, even if anything goes wrong today."
"Approaching financial decisions with a balance of expected value and expected utility can lead to more holistic and satisfying outcomes."
"Being great means choosing your own path. Sometimes you might choose to buy; I have no problem with that if you ran the numbers and you consciously decide."
"At this point, it's probably fair to start making contingencies on the money that we give to Ukraine."
"Time is your greatest ally when it comes to investing."
"If you think of it as a big idea and that you are aiming to die with zero, then it actually makes you think twice about what you're doing with your money."
"You are going to stand up to them... you are saving enough money for a new home or to move."
"I only support this strategy if you are financing a car you can otherwise comfortably afford."
"Master the art of deferred gratification, so you can get those dollars working for you."
"You would think how do people get their money, and... 80 percent of millionaires are first-generation... the lion's share of them are actually savers and investors."
"I think it's more important to have just sound investment philosophy from the very beginning than try to do the most profitable things at all times."
"Make sure you have an emergency fund of three to six months."
"If we don't invest in an asset class like a new one like cryptocurrency or invest in the stock market and our jobs are being replaced, where is the money gonna come from?"
"Interest is compounded over time, so the earlier you start, the better."
"The market tends to return about 7% to 8%...What that means is that your money will essentially double every 10 years if you do nothing."
"Identify what you want and then wait for it to go on sale."
"Concentration is what provides the outsize returns; the concentration is what provides the alpha."
"Your job is not your enemy; you are your own enemy when you sit down and say, 'Great, I'm on board,' and you're going to take that paycheck and only pay bills."
"The most important things that I try to focus on when it comes down to making money and growing your account month after month and every single trade that you take is to manage risks."
"The YOLO plan would be so that I don't have to worry. I want it to be a stream of income."
"If you have a big old emergency fund, it turns an emergency into an inconvenience."
"It's how you say 'I love you' when you leave them with no debt and you've got a will and you've got life insurance."
"So I think that's why my advice is so specific. These are the things that I'm doing now. These are things I wish I had done in 1975, or at least in 1985, when I became aware of indexing."
"If you situate your investment right, you can actually generate dividend income every single month."
"It sounds a lot more lucidus than it really was, but I did give a tax presentation to a bunch of strippers, and I'm not kidding."
"You want to get your business legit because it allows you to build credit, it allows you to get a home loan, it allows you to set up retirement accounts for themselves and their kids."
"In your twenties, a little bit goes a long way... don't blow your shot."
"Measure twice, cut once; get a full retirement plan analysis done."
"If you can set up automatic wealth building early on, you're going to set yourself up for success."
"Cryptocurrency is actually a good investment or at least it can be a good investment."
"The first 20 years of your life, don't [mess] it up. The second 20 years of your life, make your money. The third 20 years of your life, work on your passion. The fourth 20 years of your life, give back."
"The reason that I'm working my ass off right now is so when I do have a family and do have kids, I have money and success."
"Building a life, building your education, building your relationships, building your financial future."
"The most powerful wealth-building tool is your income."
"October is behind us and it looks like we are entering what is going to be a parabolic November and December."
"It's like a poem. I found myself starting to save a portion of my salary every month no matter what."
"Investing is really easy if you just follow the blueprint and plan."
"By the time you're in your 30s, you need to be saving 20 to 25%. You are freaking grown up at this point. Act like a grown-up and start saving the money."
"Don't miss out on creating your own financial legacy."
"It's not about a cost, it's about an investment. And then the question should be: Is it worth the cost in terms of the investment potential? Are we gonna get back more than we put in?"
"This ought to be viewed as a very dangerous tool because this money... was going to be what provides for you once you quit working."
"Saving for retirement remains a bewildering and frightening challenge for millions of Americans."
"Live below your means and pay yourself first, that way you can use your money to build your wealth."
"It's extremely important to save for retirement to maintain your standard of living that you've enjoyed throughout your life."
"Maximize your use of tax-advantaged accounts before investing in non-registered accounts."
"Financial planning is about understanding your situation and making choices that suit your income, tax rate, and future expectations."
"Life is too short to sit around in a place you don't want to really live in just to save some money."
"Financial planning is the idea of building your finances around a plan so that market declines are an advantage to you and not a disadvantage."
"It takes a penny to be a millionaire, aka stockpile your money, live below your means, and try to only invest in things that return."
"Best advice for a college student that is broke AF: When you're thinking about your friend group, be very aware of who you're friends with because nothing will make your finances deplete faster than trying to keep up with friends that have more money than you."
"If you're not saving money for one of these three reasons: for an emergency, for a big purchase, or for an investment, you are saving your money the wrong way."
"You save money for an emergency, save money for a big purchase, and save money for an investment. If you're not saving money for one of these three reasons, you are saving your money the wrong way."
"It's not how much money you make, it's what you do with the money you make that is so important."
"The entire blueprint in the entire financial independence retire early community is just this: save your money by cutting down on your expenses just so that you can invest and you can retire when your investment portfolio reaches 25 times your annual expenses."
"Allocation of funds can give you an amazing life setup."
"The average American is going to need one to two million dollars to retire comfortably."
"Traditional financial planning says that by the time you turn 40 years old, you want to have something like three times your annual income saved up and put aside for retirement."
"Prosperity lies ahead... focusing strongly on work, your finances in the next seven days, that is going to unlock a new level of abundance."
"Save money for an emergency, have somewhere between three to twelve months worth of expenses depending on your risk tolerance."
"You can start with five dollars a day or five dollars a week or twenty dollars a week, whatever you have. You just got to make these small incremental investments that way you can buy these assets and build your wealth faster."
"Most people don't need a financial advisor for investing... The real value a financial advisor brings is in the proactive planning in tax structuring."
"The biggest value add and where people should be putting most of their attention in investing is not in trying to come up with the super duper Investments... It's in investing tax efficiently."
"Nobody can predict the top or the bottom of a market."
"Investing is a long-term game; it's not a way to get rich quick overnight."
"It's always good when it comes to hammering out financial issues; spending, budget, bad debt."
"Make your money in the second 20 years of your life and use that to invest in your passions in the third 20 years."
"Multiple income streams are crucial, especially in times of uncertainty. They provide security and peace of mind, knowing that not all your financial eggs are in one basket."
"If you can afford one and you've got the funds to then pay for the subscription, then honestly, it's such a fantastic investment."
"What I've encouraged day traders to do is to take ten percent of every time they get a winning position and invest it in core holdings."
"We've screwed up. It's our duty in the next 20 years for that statistic that 78% of athletes or entertainers go broke after three, that has to come down."
"We don't have that legacy money, and that's what we need to start touching."
"Don't get too comfortable, a lot of us have to learn the hard way the importance of investing."
"New student loan payments plan could make it easier for borrowers to become homeowners."
"Let's talk about financial freedom, your financial freedom, and how much different your life would be if you had all the money you need."
"Invest your money into things like mutual funds, stocks, cryptocurrencies."
"If you want to replace 100% of your pre-retirement income, how much do you need?"
"What is health care going to cost for retirees? Over your lifetime, you're anticipated to spend about $316,000."
"Every single time you see your paycheck hit your bank account, you should ask yourself, 'What can I do to invest right now?'"
"The easiest way to determine how to retire is to determine how much money we need to retire."
"Focus on building your wealth first, then, later on, you can focus on creating passive income."
"If you have kids and you don't have life insurance, you are one selfish parent."
"The most important thing that you should do if you fall into that group is have a conversation with your financial advisor."
"Tax avoidance is all about using legal means, like deductions, credits, or exemptions, to reduce your tax bill. It's totally above board and a smart financial practice."
"The best way to deal with inflation, both expected and unexpected, is a properly diversified portfolio with multiple sources of positive expected returns."
"A good consistent long-term plan tends to make you the most money as long as you're careful about it."
"Have a clear idea of what you're gonna do with it... before you buy something."
"What I do with my financial system is I set a target each year. This is how much money I'm going to save and invest."
"You're doing all the right things if you're getting out of high interest rate consumer credit card debt, saving money, finding ways to put yourself in a good place."
"The earlier that you can get started, the more that compounding will benefit you."
"The first thing you need to know when it comes to investing in the stock market is whether you are in a position, whether you are ready to invest."
"Regardless of what strategy you ultimately land on, you almost definitely want to take advantage of a tax sheltered account."
"Without a vision, that's where people perish. You have to have a vision for your life and for your money, and the two have to be congruent."
"The end goal is about maximizing what you have right now and then investing the difference to give you the financial security to basically pursue whatever you want to do."
"I was taught... make sure you get a good 401K benefit package... no one really said here's how you start thinking at 18 to build true wealth."
"When investing, before you enter any position, know where you're going to exit. Whether it's going to be a percentage, right, or a time distance, know where you're going to exit."
"Saving $800 a month on a $25,000 salary shows that it's possible to build wealth even on a modest income if you're diligent and resourceful."
"Rent smooths out the payment curve over a long period of time."
"Consistent investing practices is key to success."
"Dollar cost averaging is when you decide on a certain amount of funds you would like to put towards an investment at a certain frequency."
"The true financial goal is to eventually get to a place where you are living fully off of your dividends, you're living fully off your investment, and no matter what, if you stop making money tomorrow, you will always be fine."
"Where do you want to be in 5 years? I want to own a house, I want to have some money in the bank."
"Having a budget is 99% of people just don't have one."
"They're willing to sacrifice, and they are on the same page, and that is the most important thing."
"That should pay for their college, pay for their first car, and pay for the down payment of their own first home so that they can go repeat this."
"Imagine working hard your first half of life and then the second half of life is a piece of cake, Easy Street."
"I entirely second her last point, which is whenever you do buy, at whatever interest rate, it should be one that you could sustainably afford."
"It's so important to be incorporating your own psychology when you think about money."
"The average millionaire has seven different streams of income."
"We have to be prepared to react not based on what we believe but what the Fed actually does."
"Four properties... may not make you financially free, but I guarantee you it'll change your financial future."
"Every single family member should have life insurance because life insurance creates an immediate estate for your family."
"This doesn't mean you shouldn't save any money; this just means you have to understand how to save your money strategically."
"The wealth formula is: Income minus Expenses equals Investments plus Savings."
"One of the simplest, not easiest, but simplest ways to become wealthier faster is when you increase your income to not increase your expenses."
"You need to build a financial system that is going to now make sure you pay yourself first."
"With the house money strategy, if or hopefully when it doubles in value and our holdings are worth two hundred dollars, we take out our initial $100 investment and let the rest of the money, the house money, ride out."
"Inflate your lifestyle slower than you increase your income."
"This is why most people have a go-to school, get a job, get a 401k, and save money, loser."
"This is lifestyle preservation for less, so this is not about going on a budget and giving up everything you love."
"I'd much rather invest with a higher degree of confidence that over the long term, I'll be right."
"If you start at age 25...you would have $1.8 million by the time you're 65, completely tax-free."
"Risk management is the only key to investing and trading."
"Many experts agree, including me, that you need access to reserves in order to protect yourself from those unforeseeable circumstances in life."
"You're going to make enough money one day where you can retire early."
"You need to have savings, you need to have investments, and you should be working to create multiple streams of income."
"Start investing in real assets that cash flow, that can appreciate, provide tax shelters."
"Car payments are the mantra of the middle-class. You guarantee you will be broke your whole life as long as you stay in car payments."
"Even though government taxes shouldn't be a savings plan, people don't save."
"It's the end of the month. I got all my ads done this month. It's going to be a nice down payment on the house I'm looking to buy."
"I'm saying you should have some of your money in precious metals so as to diversify."
"The best investments we could ever make, in my opinion, are the investments that we make during a recession."
"The upfront money they're providing means we'll be able to afford more help and resources to start ramping up production."
"A survey of 100 global hedge funds indicated that they plan to hold an average of 7% of their assets in cryptocurrency by 2026."
"Life insurance isn't just for dying; it's also for living."
"Properly structured life insurance can serve not just as a safety net, but as a building block for generational wealth."
"You gotta know where you're starting from... If you don't know how much is coming in and how much is going out, there is zero chance that you're ever going to be able to become financially free and successful."
"I could support a family, and I've always had this dream of having a one-income household."
"Your finances should serve toward bigger goals."
"Through the interest he's earning through the life insurance contracts, he's able to loan it back out of the policy without paying a dime a tax and fund his next deal."
"Life insurance is not just for the old or for planning funerals; it's a strategic financial tool with tax advantages and opportunities for wealth accumulation."
"It's going to be worth it, the investment is going to pay off."
"Some 40% of Americans don't have life insurance, which is idiotic since we're all gonna plotz."
"Is early retirement possible? Well, yeah, actually, but there's a pretty big asterisk that comes with that."
"You can actually set your kid up to have an 800 credit score, have a half a million dollars in a trust."
"According to census data, 66% of millennials have nothing saved for retirement. And you know what? I don't blame them."
"Pay yourself first. A part of all I earn is mine to keep."
"I realized that I wanted to choose where my money went, so instead of just throwing money around to buy something I think looks really nice, I'm instead making conscious decisions when I use my money."
"Time versus money, very few of us have the luxury of both."
"You want it to stand out, own something different, and pay for it in a single transaction with all the money you saved."
"You can either invest a smaller amount of money for a much longer time or you're going to have to invest a lot of money for a shorter window of time."
"IRA accounts you can open... It's really great because you don't get taxed on that money until you pull it out. So you don't have to pay taxes until you're like 65. Your money is able to grow and appreciate."
"You should never touch the emergency savings account. It's like the big piggy bank that you only shatter in desperate times."
"Cook from your pantry, fridge, and freezer, spending minimal on groceries, and save the rest."
"I want my money and my last breath to run out at the same time."
"At the end of the day, when you look at everything in aggregate, the $25,000 vehicle seems to be well within their reach."
"Relying on luck to make a fortune isn't really the best of strategies."
"Every dollar in your army of dollar bills should have a purpose."
"My savings plan is diversified, and yours should be as well."
"It's a temporary sacrifice. You're going to be in your mid-20s by then. Then just follow the 50-30-20 rule: 50% on needs, 30% on wants, and 20% is good enough for your investing."
"Retirement is the single biggest reason why people save."
"If I'm poor today and I'm going to be poor tomorrow, then I should still save."
"But Alcor has seemed to deal with the long-term financial issues in a sensible manner, by using the money paid by the internee to invest in future income."
"Make the sacrifices when it's just you so that way you're in a position to when you do get your wife, when you do get your spouse, you don't have to worry about making sacrifices."
"To succeed, you first have to last. Money management is your number one job."
"The average American spends 47% of their take-home pay for a roof over their head."
"Wealth is like a leaky bucket beneath the water spout; running water is your income, expense is leakage out."